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Strategies & Market Trends : Stock Attack -- A Complete Analysis

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To: dennis michael patterson who wrote (15512)9/10/1998 8:34:00 PM
From: Lee Lichterman III  Read Replies (1) of 42787
 
Beeble, concur on Don's outlooks.

Dennis, I got out of my IBM puts today. Things are looking strange to me tonight and even during the day. Did you notice any subdued strength. I just finished my charts and many of them, except banks of course, showed good strength despite the negative tick that lasted most of the day. Many techs gave either hammer formations, abandoned bullish babies that will become morning stars if tomorrow is up, or else dojis. They all seemed to test support lines and bounce back up. My homemade indicator is projecting a rise in many of them with a top in the middle of next week.

I am troubled by this since I see absolutely no reason for this except possibly sell the rumor, buy the news in regards to the Starr report or else options expiration run up to try to force puts to cover.

What is your read and does Favors hint toward any possibility of a run up? I haven't hit the TSO thread so haven't read what Don has to say yet. I just start at the top of my bookmarks and work my way down <ggg>.

Thanks Lee
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